“Last week’s restoration of the [Australian national] electricity market, following the regulator assuming full control on June 15, means the energy crisis is apparently over. But spot prices remain at around $230 per megawatt hour – a mere sixfold their historical levels. As for gas, well that’s still price-controlled and consequent supply shortages are causing business closures. [The Premier of the state of] Victoria has done his bit to create the crisis.”

Originally published here at Spectator Australia on 1 July 2022.